Health resort project “Bosna - AS” Sarajevo,

WF Kupres1 WF Kupres2 Location: Bosnia and Herzegovina Bihac municipality

Basic site information:Travel times from site: First EU broder Crossing with Coratia 10 mins Second EU border crossing with Croatia 15 mins Bihać downtown with banks, railway and bus station, 10 mins Zagreb international airport 90 mins Wien by car 5 hrs 20 mins Zadar, Adriatic coastline by car 120 mins Riverside location with multiple main road connections Stable electricity supply Stable public drinking water supply Own existing drinking water springs and existing upgradeable electricity gereraton and storage system (wind, solar, earth-thermal)

Preliminary design : Diagnostic department with extensive radilogy systems and other diagnostic equipment Therapy department with multiple operating units, highly experienced and educated staff In-patints care and out-patinets 24h remote care Top quality accomodation and hospitality infrastructure with outdoor and indoor pools and extensive crossborder touristic service Status of approvals: all requred land bougth and ready for development Preliminary design and layout done there are electricity grid connection on existing building on the site environmental approval, location permit and building permit expecting for 1-2 months

Costs Health services revenue: €/annual (1st year) Accomodation services revenue: €/annual (1st year) Leisuire and food services revenue: €/annual (1st year) Project valuation Annual EBITDA € Payback time with r=6%: 5 years Project NPV after 5y: ,96 € Net profit margin: 28,66% Project /equity valuation (profitability) With 56% capacity in first year: medical services accomodtion services leisure, food and drinks services Investment Sum% 1 fixed costs ,7 1.1 land and landscapeing , constructions , equipment - hotel part , equipment - medical part , sport-receration areas , Vehicles ,78 2spare parts and consumeables , consumeables - hotel part , consumeables - medical part ,56 total (1+2) ,00 3 operating costs ,9 3.1 Bruto wages and taxes , Social costs , Cost of sales , Maintenance , Tansport costs , Marketing costs , Other startup costs ,71 TOTAL (1+2+3) ,00

Owner/Developer: PHI MedicoOral-AS Bihać, Bosnia and Herzegovina Tel: Tel: Web: Contacts: Project financing Equity: 73,05% Developer’s costs: 10,94% of equity EUR New partner cost: 89,06% of equity EUR Financing Debt: 26,95% Developer’s costs: 100,00% of debt EUR